According to Golden Finance, people familiar with the matter revealed that the deals being reached by SoftBank CEO Masayoshi Son and OpenAI CEO Sam Altman are unprecedented in scale and structure, and negotiations between the two sides are carried out in two stages. First, SoftBank will conduct an exclusive round of financing, pledging to invest up to $40 billion in OpenAI. SoftBank does not expect to provide all the funds alone and has the right to invite other partners to participate in this round of financing. One person who knows the plan directly said OpenAI could approve or reject new investors. This round of financing is expected to bring OpenAI valuation to $260 billion. In the second phase, SoftBank plans to initially invest approximately $15 billion to $20 billion in Stargate. OpenAI has agreed that the amount of money SoftBank will be equal to that infrastructure project. Partners, including Abu Dhabi state-owned fund MGX and Stargate equity investors, intend to make further investment decisions after seeing the project progress, according to three people familiar with the matter. OpenAI and SoftBank declined to comment. (FT)